MaxLinear (NASDAQ:MXL) Stock Price Down 9.5% – Time to Sell?

MaxLinear, Inc (NASDAQ:MXL)’s stock price was down 9.5% during trading on Wednesday. The stock traded as low as $80.59 and last traded at $80.1750. Approximately 1,148,582 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 3,101,893 shares. The stock had previously closed at $88.64.

Wall Street Analysts Forecast Growth

MXL has been the subject of a number of analyst reports. Stifel Nicolaus increased their price target on MaxLinear from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 24th. Wall Street Zen upgraded MaxLinear from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Susquehanna upped their target price on MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research report on Thursday. Finally, Needham & Company LLC increased their target price on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, MaxLinear currently has a consensus rating of “Hold” and a consensus target price of $88.64.

MaxLinear Trading Down 0.8%

The firm has a market cap of $7.09 billion, a price-to-earnings ratio of 875.78 and a beta of 3.93. The business’s 50 day moving average price is $77.56 and its 200-day moving average price is $74.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The business had revenue of $168.85 million for the quarter, compared to analysts’ expectations of $164.64 million. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The company’s quarterly revenue was up 55.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 earnings per share. Equities analysts expect that MaxLinear, Inc will post 0.78 EPS for the current year.

Insider Transactions at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $85.95, for a total transaction of $30,207,471.30. The transaction was disclosed in a filing with the SEC, which is available at this link. 7.70% of the stock is owned by insiders.

Institutional Investors Weigh In On MaxLinear

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of MaxLinear during the 2nd quarter valued at approximately $1,754,062,000. The Manufacturers Life Insurance Company acquired a new stake in shares of MaxLinear during the second quarter worth $165,221,000. AIGH Capital Management LLC acquired a new stake in shares of MaxLinear during the second quarter worth $104,729,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of MaxLinear during the second quarter worth $81,056,000. Finally, Bank of New York Mellon Corp bought a new position in shares of MaxLinear in the 2nd quarter worth about $65,213,000. 90.79% of the stock is currently owned by institutional investors.

About MaxLinear

MaxLinear, Inc is a fabless semiconductor company that develops high-performance analog and mixed-signal integrated circuits for communications and connectivity applications. Its products are designed to help equipment manufacturers process, transmit and manage data across broadband, wired and wireless infrastructure, data center, and industrial systems.

The company’s product portfolio includes broadband access and connectivity solutions, RF and microwave components, Ethernet and high-speed interconnect products, optical networking technologies, and power-management devices.